You might say this company has fortified its position in the radio business. Citadel Broadcasting is the #3 radio broadcaster in the US in terms of number of stations (behind Clear Channel Communications and Cumulus Media), with more than 220 stations serving more than 50 markets. Most of the company's stations operate in market clusters, sharing administration and other back-office functions. The stations offer a variety of music formats, as well as news, talk, and sports. In addition, the company's Citadel Media unit is a leading syndicator of radio news and entertainment programming serving about 4,400 affiliates. Cumulus Media acquired Citadel Broadcasting in 2011.
Citadel Broadcasting fell on hard times in the wake of the economic downturn that affected most all advertising supported media businesses. It was also struggling under the weight of enormous debt piled up as a result of earlier acquisitions.